Oil rig count jumps by 17

The US oil rig count climbed for the third week in a row, rising by 17 to 583, according to Baker Hughes.

That is the highest rig count since October 23, 2015.

Meanwhile, the number of active gas rigs stayed flat at 145. And the combined count jumped to 729.

Last week, the rig count climbed for the second week in a row, rising by 15 to 566, according to Baker Hughes.

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Andy Kiersz/Business Insider